Cowen To Close Two Ramius Hedge Funds

Jun 16 2010 | 1:36pm ET

Cowen Group has decided to shutter two of Ramius Capital’s multi-strategy hedge funds in the wake of continuing redemptions.

The firm—created by the merger of Ramius and boutique investment bank Cowen last year—plans to offer investors in the funds redemption options for the liquid portions of the Ramius Multi-Strategy and Ramius Enterprise funds, HFMWeek reports. The move comes after redemptions crossed a threshold that allows Unicredit, one of the funds’ largest investors, to redeem its $668 million investments with just 30 days notice.

The Italian bank has agreed to participate in the slower wind-down of the funds, however. Ramius, as the hedge fund arm of Cowen is still known, told the Securities and Exchange Commission it would begin returning investor capital in July and should complete the liquidation by the end of the year.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...